文章基本信息

标题：Does central bank independence reflect monetary commitment properly? Methodical considerations
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作者：Andreas Freytag
期刊名称：PSL Quarterly Review
印刷版ISSN：2037-3643
出版年度：2001
卷号：54
期号：217
语种：English
出版社：Economia civile
摘要：Central bank independence (CBI) has attracted much attention in economics and politics in recent years. The concept is based on the political economy literature on monetary policy. In this paper, we argue that CBI is an incomplete approximation to legal monetary commitment. We first discuss the nature and criteria of commitment, then show the shortcomings of the most important indices of CBI before we introduce an alternative measure of legal monetary commitment. This measure is more comprehensive and includes more aspects of commitment than the indices of CBI. A first empirical comparison of this index and a leading CBI index strengthens the argument. JEL Codes: E52, E58Keywords: Monetary Policy, Monetary, Policy
关键词：Monetary Policy, Monetary, Policy;E52, E58